Showing all posts tagged #economics:

Kinky Labor Supply and the Attention Tax clipping

Posted on January 22nd, 2019

This essay was co-authored by Andrew Kortina and Namrata Patel. Kinky (S1) vs classical (S0) labor supply curve.Over the past few decades, labor force participation has sharply dropped for men ages 20-34. Theories about the root cause range from indolence, to a lack of skills and training, to offshoring, to (perhaps most interestingly) the increasing attractiveness and availability of leisure and media entertainment. In this essay, we propos...

Re: For the greater good: the game theory of zoning

Posted on December 30th, 2018

Jake Auchincloss emailed me about my recent post For the greater good: the game theory of zoning and made the constructive point that a homeowner's mindset is "situation-dependent, not ingrained". At the end of the post, I had written that "Individualists and Regionalists are odd bedfellows". Jake pointed out that there may be tension at the abstract level of the Individualist-Localist-Regionalist framework, but that in practice people don't o...

For the greater good: the game theory of zoning

Posted on November 16th, 2018

Pro-housing advocates criticize "NIMBYs" as being uncooperative and selfish. However that's not how the so-called NIMBYs see themselves. The difference is a question of the granularity of your analysis. Individualists vs Localists A question I hear a lot is: "Why do NIMBY homeowners support zoning laws? Isn't it in their best interest to allow for the highest and best use so that they can sell their own property for the maximum price? Don't t...